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Posts Tagged ‘earnings growth’

Drew Industries Makes the Grade

September 25th, 2013 Comments off

Combining the manufactured housing (MH) and recreational vehicle (RV) industries together, investors.com ranks the combination 19th out of 197 industry groups that Investors Business Daily (IBD) tracks. The group has seven members but only three are significant, MHProNews has learned. Manufactured housing’s sister business Thor Industries (THO) ranks number one, followed by Winnebago Industries (WGO) in the second spot, and Drew Industries (DW) fills out the third position due to its strong earnings growth over the last three years. Through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies components to the MH and RV industries. Drew closed up in today’s trading, +0.32% to end the session at 43.84.

(Image credit: Drew Industries, Inc.)

Michigan Housing Stocks Perform Well in 2012

January 1st, 2013 Comments off

The detroitnews reports of the largest 64 publicly-traded Michigan firms, all but 13 saw the value of their shares increase in 2012, realizing an average return of 19 percent compared to 13.4 percent for the S&P’s 500 Index. The largest gainers have been companies in the housing and financial industries, including Bloomfield Hills-based homebuilder Pulte Group, which spiked 188 percent, and Grand Rapids headquartered Universal Forest Products, Inc. (UFPI) which moved up 23 percent. UFPI provides structural components to the MH industry, closing up +0.61% Dec. 31 at 38.04. MHProNews has learned from CNNMoney, while Southfield-based MHC owner Sun Communities’ (SUI) stock remained in a 52 week range from 35.06 to 47.84 in 2012, the company’s earnings growth for 2012 was up +620 percent, compared to +66.67 percent for 2011. Sun closed up 1.99% Dec. 31 at 39.89.

(Photo credit: Chris Butler/Idaho Statesman–Dolores Laredo working on MH)

Sun Clinches Deal, Builds Portfolio

November 22nd, 2012 Comments off

As we reported Oct. 9, 2012, Southfield, Mich.-based Sun Communities, Inc. (SUI) announced it was purchasing four manufactured home communities in eastern Mich., with 1,996 homesites for $70.8 million, and providing mezzanine financing for two other MHCs that it will manage, with 1,598 homesites, all being acquired from entities of Rudgate. MHProNews has just learned from 4-traders the completed transaction totaled $71.1 million because Sun also purchased related manufactured homes, promissory notes, and installment contracts. The $15 million mezzanine financing is subordinated to $45.9 million of third-party senior debt for the two MHCs the company has agreed to manage. Gary A. Shiffman, Chairman and CEO, says, “We expect to stay active in the market as we continue to see attractive opportunities to enhance earnings growth”. This real estate investment trust (REIT) now owns and operates 171 communities comprised of 61,300 homesites.

(Image credit: Sun Communities, Inc.)

As of market close Wed., Nov. 21, Sun’s stock was down -0.87 to 38.71.